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Thomas Steyer Farallon Capital Management

AUM $21.7B
1-Year Est. Return 79.24%
 

Thomas Steyer founded Farallon Capital Management, a pioneering multi-strategy firm spanning credit, equities, real estate, and event-driven investing. Farallon became known for rigorous research and opportunistic capital allocation across cycles. Although Steyer later focused on public advocacy, the Farallon name remains important in hedge fund history and ongoing 13F tracking.

This Fund
S&P 500
This Quarter Est. Return
+18.01%
1 Year Est. Return
+79.24%
3 Year Est. Return
+204.51%
5 Year Est. Return
+270.91%
10 Year Est. Return
+1,884.18%
AUM
$23.1B
AUM Growth
-$1.32B
Cap. Flow
-$3.13B
Cap. Flow %
-13.54%
Top 10 Hldgs %
44.45%
Holding
175
New
31
Increased
22
Reduced
37
Closed
21

Top Buys

Rank Stock Value
1
EA
Electronic Arts
EA
+$1.02B
2
EXAS
Exact Sciences
EXAS
+$514M
3
CYBR
CyberArk
CYBR
+$507M
4
SNPS icon
Synopsys
SNPS
+$444M
5
AVGO icon
Broadcom
AVGO
+$319M

Top Sells

Rank Stock Value
1
ADSK icon
Autodesk
ADSK
+$528M
2
TMO icon
Thermo Fisher Scientific
TMO
+$352M
3
TRU icon
TransUnion
TRU
+$333M
4
INTU icon
Intuit
INTU
+$333M
5
K
Kellanova
K
+$323M

Sector Composition

Rank Sector Weight
1 Healthcare 41.06%
2 Technology 12.67%
3 Financials 9.75%
4 Communication Services 8.88%
5 Consumer Discretionary 4.5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SLNO
126
DELISTED
Soleno Therapeutics
SLNO
$232K ﹤0.01%
5,000
-148,000
-97% -$8.11M
PCVX icon
127
Vaxcyte
PCVX
$9.32B
$231K ﹤0.01%
+5,000
New +$224K
FOLD
128
DELISTED
Amicus Therapeutics
FOLD
$228K ﹤0.01%
16,000
– –
NEO icon
129
NeoGenomics
NEO
$2.18B
$223K ﹤0.01%
+19,000
New +$205K
ANNA
130
AleAnna Inc
ANNA
$116M
$223K ﹤0.01%
78,400
– –
ICLR icon
131
Icon
ICLR
$13.3B
$219K ﹤0.01%
1,200
– –
ESTA icon
132
Establishment Labs
ESTA
$2.17B
$219K ﹤0.01%
+3,000
New +$181K
OCUL icon
133
Ocular Therapeutix
OCUL
$2.43B
$219K ﹤0.01%
+18,000
New +$219K
SNDX icon
134
Syndax Pharmaceuticals
SNDX
$1.75B
$210K ﹤0.01%
10,000
– –
PGEN icon
135
Precigen
PGEN
$2.58B
$209K ﹤0.01%
+50,000
New +$193K
HR icon
136
Healthcare Realty
HR
$6.65B
$203K ﹤0.01%
12,000
– –
DYN icon
137
Dyne Therapeutics
DYN
$4.87B
$196K ﹤0.01%
10,000
– –
BCRX icon
138
BioCryst Pharmaceuticals
BCRX
$2.44B
$187K ﹤0.01%
24,000
– –
TVRD
139
Tvardi Therapeutics
TVRD
$24.8M
$186K ﹤0.01%
43,225
– –
ADPT icon
140
Adaptive Biotechnologies
ADPT
$4.15B
$179K ﹤0.01%
+11,000
New +$180K
ANNAW
141
AleAnna Inc Warrant
ANNAW
$7.3M
$163K ﹤0.01%
990,000
– –
ARDX icon
142
Ardelyx
ARDX
$1B
$134K ﹤0.01%
23,000
– –
BGLWW
143
Blue Gold Ltd Warrant
BGLWW
$345K
$132K ﹤0.01%
300,000
– –
RVMDW icon
144
Revolution Medicines Inc Warrant
RVMDW
$130M
$113K ﹤0.01%
120,085
– –
RANI icon
145
Rani Therapeutics
RANI
$102M
$105K ﹤0.01%
+78,000
New +$118K
ALT icon
146
Altimmune
ALT
$605M
$99.6K ﹤0.01%
27,600
– –
IOVA icon
147
Iovance Biotherapeutics
IOVA
$3.76B
$71K ﹤0.01%
26,000
– –
GERN icon
148
Geron
GERN
$977M
$56.8K ﹤0.01%
43,000
– –
EVH icon
149
Evolent Health
EVH
$536M
$56K ﹤0.01%
14,000
– –
CCCC icon
150
C4 Therapeutics
CCCC
$492M
$53.5K ﹤0.01%
28,000
– –
3 4 5
6
7

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BPA
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CHP
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PAG
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ETC
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Thomas Steyer's Q4 2025 Portfolio in Review

As of Q4 2025, Thomas Steyer held 175 positions worth $23.1B, down 5.4% from $24.4B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Thomas Steyer withdrew a net $3.13B in Q4 2025, closing 21 positions and reducing 37 holdings. Its most notable exit was Autodesk, an estimated $528M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 41% of assets, up from 33% a quarter earlier, followed by Technology and Financials.

Against the trend, Thomas Steyer opened a new position in Electronic Arts worth $1.03B.

  • Thomas Steyer's largest Q4 2025 buy was Electronic Arts: 5,035,000 shares worth $1.03B.
  • Thomas Steyer added most to Boston Scientific in Q4 2025, an estimated $264M increase.
  • Thomas Steyer's biggest Q4 2025 reduction was Thermo Fisher Scientific, cutting an estimated $352M.
  • Thomas Steyer fully exited Autodesk in Q4 2025, selling an estimated $528M.
  • Thomas Steyer's ten largest holdings make up 44% of its $23.1B portfolio in Q4 2025.
  • Thomas Steyer opened 31 new positions and closed 21 in Q4 2025.
  • Thomas Steyer's portfolio value fell 5.4% quarter-over-quarter to $23.1B.

Based on Farallon Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.